re: Rejoice debtors, Biden says student loans won't be considered delinquent until 9/30/2024

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So no late fees but compounding interest for another year. Those with $100k of debt will be at $108k after a year (assuming 8% interest)

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Most federal balances originating in the 2010’s are more like 3.5% subsidized balance which is like 60% of the balances to 6.5% on 40% of the unsubsidized balances. So not close to 8%.